The cost of renting a property in the second quarter of 2022 is 12.6% higher that the same period period last year.
The figure is the highest recorded in the Daft.ie Report since its launch in 2006, surpassing the previous peak of 11.8% in late 2016.
The average market rent nationwide between April and June was €1,618 per month.
Nationwide, there were just 716 homes available to rent on August 1st, down from almost 2,500 a year ago.
In Dublin, market rents were on average 12.7% higher in the second quarter of 2022 than a year previously.
The average listed rent is now €2,170.
The availability of rental homes in Dublin has collapsed over the last 18 months, with just 292 live rental ads on August 1st, the lowest on record.
Economist and author of the Daft.ie report Ronan Lyons said the lack of supply is the main factor contributing the increase.
